Chelsea Clinton Buying $10 Million NYC Apartment

Via: Economic Policy Journal

File under: It’s a wonderful world for children of elitists and crooked politicians,

Chelsea Clinton is buying a $10.5 million spread right across the street from Madison Square Park, reports NyPo. The apartment is 5,000 square feet and is located in the Whitman.

The unit at 21 E. 26th St. is four bedrooms, with 6 1/2 bathrooms, and the family room has a full view of the park.

The five-story building has one apartment per floor, and a key-locked elevator.

Read more: here 

And they found the building on their own while out walking…amazing…
-Moose

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Wholesale Foreclosure Sales Planned

Via: Money Journal

The U.S. federal government is making plans to sell more than 250,000 foreclosure homes at wholesale prices in bulk to a series of investor-backed firms in an effort to speed up the recovery of the housing market and artificially push home prices higher.

The plan comes on the heels of a pilot program that sold homes to investor led groups in a half a dozen states, most seriously damaged by the real estate collapse. The government has made a series of efforts to aid the housing market, including efforts to refinance underwater homeowners without regard to loan to value levels, but few of the programs has actually shown much success to aid the market, which has seen home prices decline for seven years in most areas of the country until recently.

Read more: here

Americans Are Using Their Houses as ATMs Again

Via: CNBC

CNBC.com | February 08, 2013 | 11:04 AM EST
 

Nearly 11 million borrowers are underwater on their mortgages, owing more than their homes are worth, according to CoreLogic, and yet home equity lines of credit are suddenly on the rise again.

During the housing boom of the last decade Americans withdrew over $1 trillion in home equity. They did it through cash-out refinances, home equity loans, and home equity lines of credit. The latter allowed them to use their homes like an ATM. They spent the money on cars, televisions, vacations and fancy home upgrades. It was seemingly endless equity, until suddenly that equity was gone.

Read more: here

Americans Are Using Their Houses as ATMs Again

Via: CNBC

CNBC.com | February 08, 2013 | 11:04 AM EST
 

Nearly 11 million borrowers are underwater on their mortgages, owing more than their homes are worth, according to CoreLogic, and yet home equity lines of credit are suddenly on the rise again.

During the housing boom of the last decade Americans withdrew over $1 trillion in home equity. They did it through cash-out refinances, home equity loans, and home equity lines of credit. The latter allowed them to use their homes like an ATM. They spent the money on cars, televisions, vacations and fancy home upgrades. It was seemingly endless equity, until suddenly that equity was gone.

Read more: here